10 Books I Think People Should Read To Become More Successful
Knowledge is power, and it’s no secret that reading is the single most inventive way humans have learned to expand their access to knowledge and power. As Frederick Douglass once said, “Once you learn to read, you will be forever free.” I certainly agree with this and think that no matter how many new technologies we have access to, we should never take for granted the power of reading. In my own life, I have read many influential books that have heavily impacted my outlook on life and my understanding of the world around me. Below, I’ve listed the […]
Is Your Retirement Portfolio Strategically Managed? It Should Be.
You may hear financial gurus toss around the phrase “retirement portfolio management strategies” as if everyone has a concrete idea of what that means. But connecting the gap between the reason for your strategies (the goals you have for your future) and the actual decisions you make with your investments is a pretty daunting task for non-financial experts. Nevertheless, your decisions about the assets and allocations in your portfolio should be strategic. Retirement planning is a huge undertaking: you want to enjoy these years to the fullest without risking the possibility that you run out of money in your […]
What Is Your Ideal Long-Term Care Solution?
Have you built long-term care costs into your holistic wealth strategy? If not, this is an important thing to consider. Research suggests that most Americans turning 65 this year will need at least some form of long-term care as they age,[1] and long-term care is enormously expensive. However, you have options to build long-term care strategies into your retirement plan without totally breaking the bank, and Beacon Wealth Management can help you discover the right strategy for you. Read on to learn more about your options and prepare for a discussion with us about which long-term care option will […]
Does Someone You Know Need A Complimentary Strategy Session?
The past year and a half has been interesting, to say the least. With the coronavirus pandemic, a tumultuous election resulting in a new presidential administration, and a shaky return to normal employment levels, it’s no wonder Americans are feeling insecure about their wealth and financial security. During times like these, it’s more important than ever to partner with a trusted wealth advisory team who can help you make sense of economic volatility and develop a wealth strategy you feel secure about. We are here for you, and many of you have asked if we are willing to work […]
How Our Wealth Strategy Portal Can Help You Enjoy More And Worry Less
If you’ve ever tried to make sense of your finances and thought to yourself, “Wow, what a mess,” you’re not alone. A recent study by Capital One found that 58% of participants feel like their finances control their lives, rather than the other way around. (1) In this article, we’ll share our unique approach to helping our clients take control of their financial lives. Find A Better Solution Perhaps your current wealth strategy consists of checking your bank account balance and contributing a portion of your paycheck to a retirement account. Or maybe you have a rough idea of […]
Year-Round Tax Reduction Strategies
Whenever the topic of taxes comes up, it’s typically to discuss how to get out of paying them. When people earn money, it’s usually with the intent to spend it on their happiness, not to give it to the government. Unfortunately, it is a common occurrence that folks are only interested in talking about taxes near tax season. Because of this, a conversation with an advisor often turns into a tax mitigation triage, looking for a way to throw a couple of thousand dollars somewhere at the last minute. However, if you don’t want to get taken to the […]
Financial Conversation Tips for Couples
Communication about money is often fraught for couples, and bringing the topic up with your partner can be challenging. But discussing financial concerns, goals and habits is key to a strong relationship. And open communication about these topics can help you and your partner work as a team toward common financial goals. How to talk about money and which topics to focus on will likely change as you grow together and enter different life stages. Here’s a look at how to start honest talks about money with your partner and how to keep the conversation going. When you’re dating […]
Breaking Down Socially Responsible Investing
Many investors want more out of their investments than just a good return. They want to know that the companies they invest in are ethical and responsible — that they build environmentally sustainable business models, advance a social good and operate in a transparent, ethical way. To identify these companies, socially responsible investors can use a set of criteria known as ESG. ESG basics ESG is short for environmental, social and governance. Investors can use each element of this framework to screen their investments and build a socially responsible portfolio. Here’s a closer look: ● Environmental issues include emissions […]
5 Tax Management Tips for Entrepreneurs
Most people don’t start thinking about taxes until January rolls around. But if you’re an entrepreneur, you have so much more to keep up with than the average person. Self-employment taxes. Employee taxes. Quarterly estimated taxes. It’s a lot. Figuring out how to effectively manage your tax situation should always be on the brain. With that in mind, here are five quick ways to manage and reduce taxes as an entrepreneur. (And heads up — if you’re a high-income-earning entrepreneur making over $250,000 a year, we have more advanced strategies for you at the end of this article.) 1. […]
Should I Take My Pension As A Buyout?
If your employer provides a pension plan benefit, you may be offered a lump-sum buyout in place of ongoing monthly payments. A lump-sum buyout can present some attractive opportunities, but a lump sum isn’t right for everyone. In this article, we cover some of the most important considerations to help decide between keeping your monthly pension or taking the lump sum. Monthly Payment Vs. Lump Sum Pension plans offer the unique benefit of guaranteeing* (1) a certain amount of monthly income during your retirement for as long as you live. This guaranteed income can remove some of the stress […]
